JPMorgan Chase & Co. Boosts Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

JPMorgan Chase & Co. increased its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 22.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 900,447 shares of the real estate investment trust’s stock after acquiring an additional 163,774 shares during the quarter. JPMorgan Chase & Co.’s holdings in PotlatchDeltic were worth $40,565,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Adelante Capital Management LLC grew its position in PotlatchDeltic by 3,486.3% in the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock worth $51,684,000 after acquiring an additional 1,115,272 shares during the period. Deprince Race & Zollo Inc. grew its holdings in shares of PotlatchDeltic by 33.0% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock worth $48,346,000 after purchasing an additional 304,352 shares during the period. Heitman Real Estate Securities LLC acquired a new stake in shares of PotlatchDeltic during the 3rd quarter worth about $8,153,000. Ceredex Value Advisors LLC purchased a new stake in PotlatchDeltic in the 3rd quarter valued at about $7,884,000. Finally, NFJ Investment Group LLC purchased a new position in PotlatchDeltic during the third quarter worth about $5,878,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PCH shares. Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 price target on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Thursday, September 12th. BMO Capital Markets upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a report on Friday, December 6th. Truist Financial boosted their price target on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.40.

PotlatchDeltic Price Performance

PCH stock opened at $39.50 on Monday. The business’s 50-day moving average is $41.84 and its two-hundred day moving average is $42.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $49.45. The firm has a market capitalization of $3.11 billion, a P/E ratio of 188.10 and a beta of 1.16.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The company had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $241.35 million. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS. Analysts anticipate that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Monday, December 16th. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

PotlatchDeltic Profile

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.